Hehe thanks but no thanks. There are many reasons why I've been losing money as of late, but I don't think that's one of them. I'd prefer to keep on using pitchforks and price.. seems like might be onto something with fib confluence, pitchforks, and price action. (see attached Tuesday's trading) The basic premise I've discovered after 2 weeks of trials (not a huge sample size, but something to go by) is that fib confluence with median lines is very powerful, but only certain fib#, not including 23.6%. When it works, it works DAMN good though. And when it doesn't, you take a 1 point stop and move on with your life.
Thanks Rverheyen. I'm just going to keep trucking away. I'm on Winter break and while most people are relaxing and spending time with their family, I'm being a nutjob and trading round the clock or reviewing my trades. Doing what must be done... Moderate: I'm 19 years old.
Posting the other day that I sim traded yesterday. I know I didn't trade the entire day on 12-14 but don't know how much I did total, so I can't count this for my PnL. All I did was follow the trend and tinker around with fib retracement levels and taking profits just before S/R.
Running PnL on journal is $-720. Havn't had much time to trade because of being out of town with folks, partying in Mexico with friends, and allowing some time for me to meet women, but now im back full swing. Sleep can be sacrificed. Trading or women, cannot. That is my lesson. This is definitely a wakeup call that I'm nowhere near ready to go live. I had a great start when I first began with the NQ, ES, and ER2, but that was surely due to the volatility at the time. O well, slowly I am evolving. Will probably post some charts of stocks im looking at and trades after tomorrows(todays) session. Still have yet to sleep .
Have stomach flue but did a little bit of work on some charts. Couldn't trade today... woke up and could barely sit up without feeling sick. Feel better after a day of not eating anything and did a little of analysis. I'm just going to post my charts and see if I can get any comments on them. I am just starting to look at elliot wave/fib confluence levels so excuse me if charts look bad. I am just observing how levels react to see if I can form/integrate it into my current trading plan. Here goes... PS I know that ZIXI is hard to read but I am trying to see if there is any use to fib time analysis. So far it just looks like it clutters the screen... lots of points coming together in 3 days from now for it, but Ninja doesn't have the ability to display blank space on the right of the screen for some reason.
Kid, thanks a million for posting. Been trading NQ for years and never seen anything like it! Just remember that there is life after youth and don't be in a BFH. The markets will always be there. Young willing pussy will not. Trust an old man on this.